A corporation consists of:
a. shareholders
b. board of directors
c. officers or managers
d. shareholders and board of directors
e. shareholders, board of directors, and officers or managers
e
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Which of the following items will result in an inclusion in gross income?
A) A 10% stock dividend for all shareholders is declared by the board of directors of a publicly-traded corporation. Mel receives 10 shares of stock worth $1,000. B) Due to the discovery of oil beneath Finn's land, the value of Finn's land increases $1,000,000. C) Jane receives a check from her stock broker for $50,000 due to the sale of stock purchased five years ago for $60,000. D) George won $50 at his church's bingo game night.
The just-in-time costing system waits until the units are completed to record the cost of production
Indicate whether the statement is true or false
To properly present a draft for payment, the holder must present it to the drawer
Indicate whether the statement is true or false
A manager at Dillard's discovers that JCPenney has reduced the price of its children's Levi's from $31.99 to $24.99, according to an advertisement in the Sunday newspaper. She immediately phones her store and instructs the salesperson on duty to put a sign up next to their children's Levi's that reads, "SALE: $24.99." This is an example of what pricing strategy?
A. Secondary-market pricing B. Periodic discounting C. Reference pricing D. Random discounting E. Comparison discounting